Oiltanking spin-off Advario weighs developing LNG storage facility in Singapore

Advario CEO Bas Verkooijen said there is continued growth forecast for LNG in South-east Asia. PHOTO: ADVARIO
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SINGAPORE - Global energy storage operator Oiltanking's recently formed subsidiary Advario is considering developing a liquefied natural gas (LNG) storage facility in Singapore as it looks to double its total business to €500 million (S$726 million) by 2030.

Advario's newly appointed chief executive Bas Verkooijen told The Straits Times: "Fundamentally, in the mid to long term, there is continued growth forecast for LNG in South-east Asia, and we are also focused on growing our chemicals, gases and new energies businesses and that means LNG has a part to play in that."

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